Meanwhile, in his May Day address to workers, President Bola Tinubu hinted at an imminent increase in the minimum wage.
By Nydra Ayibapreye
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have provided rationale for the proposed minimum wage of N615,000 for workers in a breakdown released on Friday.
According to Organised Labour, the increased costs of food and transportation justify allocating larger portions of the minimum wage to these expenses.
This information was outlined in a statement titled ‘2024 National minimum wage negotiation: How we arrived at N615,000,’ issued by the NLC on Friday. Both NLC President Joe Ajaero and TUC President Festus Osifo have separately affirmed that the N615,000 minimum wage proposal accurately reflects the current circumstances.
Meanwhile, in his May Day address to workers, President Bola Tinubu hinted at an imminent increase in the minimum wage.
The NLC calculated food expenses at N9,000 per day multiplied by 30 days (a month), totaling N270,000. Transportation was set at N110,000 per month by the NLC, while housing/accommodation was estimated at N40,000 monthly.
Other expenses included Electricity/Power at N20,000 per month, Utility/Water at N10,000 monthly, and Kerosene/Gas at N35,000 monthly. Medical costs were budgeted at N50,000 per month, Clothing at N20,000, Education at N50,000, and Sanitation at N10,000 monthly.
Organised Labour defended the proposal, citing the challenges faced by Nigerian workers due to the high cost of living, fueled by a 33.20 percent inflation rate as of March 2024.
Ajaero emphasized that governors could afford the proposed N615,000 minimum wage if they prioritize appropriately.
The Labour leader clarified that the N615,000 figure does not cover expenses such as calls and data, offerings in religious institutions, community dues, entertainment, savings, security, and other miscellaneous expenses, making it a realistic estimate for basic necessities.
It said the new minimum wage began on April 19, adding, “It has become imperative at this point that we inform Nigerians, who may not have already known the foundations upon which our initial demand for a N615,000 new National Minimum Wage is based upon.”
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